RD Calculator (Recurring Deposit)
Indian banks compound recurring deposit interest quarterly: each monthly instalment earns interest for the months left until maturity.
Enter your monthly deposit, the bank's RD rate and the tenure in months.
How to use the RD Calculator
- Enter the monthly instalment.
- Enter the bank's RD interest rate.
- Enter the tenure in months (6 to 120).
- Review the maturity value and interest earned.
Examples
₹5,000 a month for 2 years at 7%
Input: ₹5,000 × 24 months @ 7%
Result: Invested ₹1,20,000 → maturity shown with quarterly compounding
Frequently asked questions
What formula do banks use for RD?
M = Σ P × (1 + r/4)^(4 × k/12) for k = 1…n months, which for whole quarters equals P[(1+i)^q − 1] / (1 − (1+i)^(−1/3)) with i = r/400.
Is RD better than SIP?
An RD gives a guaranteed, fully taxable return; an equity SIP is market-linked. RDs suit short goals and emergency savings; SIPs suit 5+ year goals.
Learn more
Estimates, not tax or legal advice. Results come from the published rules for the cases this calculator covers; your own circumstances can change them.
Last checked 2026-10-30 by the TakeHomeWorld editors · How we calculate and check rates · Runs entirely in your browser; nothing you type is stored.